Zacks Research Comments on F.N.B. Co.’s Q2 2023 Earnings (NYSE:FNB)

Posted by on May 4th, 2023

F.N.B. Co. (NYSE:FNB – Get Rating) – Equities researchers at Zacks Research cut their Q2 2023 earnings estimates for F.N.B. in a report issued on Tuesday, May 2nd. Zacks Research analyst S. Shah now forecasts that the bank will earn $0.37 per share for the quarter, down from their previous estimate of $0.38. The consensus estimate for F.N.B.’s current full-year earnings is $1.52 per share. Zacks Research also issued estimates for F.N.B.’s Q4 2023 earnings at $0.38 EPS, FY2023 earnings at $1.54 EPS, Q2 2024 earnings at $0.38 EPS and Q1 2025 earnings at $0.40 EPS.

F.N.B. (NYSE:FNB – Get Rating) last announced its quarterly earnings results on Thursday, April 20th. The bank reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $416.10 million during the quarter, compared to the consensus estimate of $413.52 million. F.N.B. had a net margin of 29.60% and a return on equity of 10.12%. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share.

Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of F.N.B. from $16.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. Raymond James decreased their price objective on shares of F.N.B. from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, April 6th. StockNews.com lowered shares of F.N.B. from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Finally, Stephens initiated coverage on shares of F.N.B. in a research note on Monday, April 3rd. They issued an “overweight” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

F.N.B. Price Performance

Shares of NYSE FNB opened at $10.74 on Wednesday. F.N.B. has a fifty-two week low of $10.48 and a fifty-two week high of $14.71. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 7.36 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day simple moving average is $12.10 and its 200 day simple moving average is $13.12.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, June 1st. F.N.B.’s payout ratio is 32.88%.

Insider Buying and Selling at F.N.B.

In other F.N.B. news, insider Gary L. Guerrieri sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $14.61, for a total value of $73,050.00. Following the completion of the transaction, the insider now directly owns 89,317 shares of the company’s stock, valued at approximately $1,304,921.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.03% of the company’s stock.

Institutional Trading of F.N.B.

Hedge funds have recently made changes to their positions in the stock. First Command Bank bought a new stake in shares of F.N.B. during the 2nd quarter worth $27,000. Machina Capital S.A.S. bought a new stake in shares of F.N.B. during the 1st quarter worth $29,000. IFP Advisors Inc lifted its holdings in shares of F.N.B. by 196.0% during the 3rd quarter. IFP Advisors Inc now owns 2,451 shares of the bank’s stock worth $30,000 after acquiring an additional 1,623 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in F.N.B. by 72.8% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,645 shares of the bank’s stock worth $31,000 after purchasing an additional 1,114 shares during the period. Finally, Old North State Trust LLC purchased a new position in F.N.B. in the 3rd quarter worth $39,000. 76.07% of the stock is owned by institutional investors.

About F.N.B.

(Get Rating)

F.N.B. Corp. is a financial holding company. It engages in the provision of financial services to consumers, corporations, governments, and small to medium-sized businesses. The firm operates through the following segments: Community Banking, Wealth Management, Insurance, and Other. The Community Banking segment includes commercial and consumer banking services.

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Earnings History and Estimates for F.N.B. (NYSE:FNB)

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